Investing in Prosper
| Listing Information | |||
|---|---|---|---|
| Amount: | $1,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 27% |
| Lender Rate: | 8% | Borrower: | Investing4Future |
| Finished | State: | IN | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-09-26 | EricsCC ROI: | 6% |
| Status History | |
|---|---|
| Sep 27, 2007 | Current |
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Purpose of loan: I am looking for a small loan that I will use to invest in other Prosper loans. I love the idea of this site and would like to get involved, but do not have a lot of capital to put in up front. I plan on using this loan to learn the ins and outs of the site. If goes well I will increase my involvement with the site. In the worst case scenario occurs and every loan I fund defaults, I will still have no problems meeting my obligation and repaying the loan. As you can see my credit is good and I have never missed a payment. I have more than enough in savings to pay for loan, but would like to learn the borrowing side and see if I can make more than the interest I pay on a small scale before raising the stakes. Basically, I am looking to start small and build from there. My financial situation: I am currently working in sales and have been in the same position for 6 months. For my income I only put my base salary, as that is the only part that is guaranteed, but I get a bonus every month, but the amount can very. Average so far is approx. $1000 a month and this amount should only go up as I get better at what I do and build a customer base. My wife also works full-time as an RN, so her income is also used to cover some of the monthly expenses, but i have only put my income on the chart below. The revolving balance is on a 0% CC that is still at 0% for another 10 mos, at which time we will pay off the remaining balance. Monthly net income: $ 2500 (my base salary) Wife's Income - $3000 My Avg Monthly Bonus - $1000 Monthly expenses: $ 2250 Housing: $ 1100 Insurance: $ 100 Car expenses: $ 250 Utilities: $ 200 Phone, cable, internet: $ 100 Food, entertainment: $ 200 Clothing, household expenses $ Credit cards and other loans: $ 300 Other expenses: $ |
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